Why supporting charity is good for business

November 02, 2018

Author: Jessica Ching

It’s well documented that donating to charity is not only good for the cause itself, but can also be deeply rewarding on a personal level.

For businesses, the benefits that come from supporting charity go even further. From improving morale, motivation and collaboration within your team, to defining your corporate identity and widening your network, there are many ways that giving back can boost your business, and help you to attract, retain and hire graduates.

Improve morale

Financially supporting or getting involved in a charity initiative can have an hugely positive impact on workplace culture. For individuals, feeling as though they are making a difference will help to boost confidence and increase employee engagement – so if an employee has played a large part in a fundraising activity, or has been responsible for raising a large sum of money, make sure that their achievement is recognised on a company-wide level.

Getting the team involved in something fun, such as a volunteering day, will also give employees a break from work that will make them feel good about themselves – and in general, happier employees = better performance!

Boost your brand

Being actively involved in charity can also help to build and define your corporate identity. Demonstrating that your business is thoughtful, ethical and charitable will help to build a positive impression of your brand – which also happens to be useful tool for graduate recruitment. A recent survey found that nearly two-thirds of 18 - 34 year olds were at least somewhat more likely to want to work for a company that gave to charity than one that did not – so it’s clear that young people are attracted to businesses that give back. Jack, a graduate working in HR and avid supporter of the Movember Foundation, agrees:

“Charities are pillars of the community which provide support to those that need it. When businesses show support for charities, I think it shows the company cares and demonstrates a desire to help.”

A great way to improve your PR strategy, whilst also attracting the best graduate talent, working with or donating to a charity can help to build a positive image of your brand.

Compete with bigger brands

Corporate responsibility is something we often associate with large brands – but supporting charity doesn’t need to cost an arm and a leg to make a difference. Taking part in charitable activities will make your business more attractive to graduates, helping you to stand out from even the most recognisable brand names.

Stating on your job description that your team ‘regularly takes part in fundraising activities’, offers ‘2 charity days per year’, or ‘donates to a different charity each quarter, as voted on by employees’ can be a great way to bolster your benefits package and hire graduates. If a candidate is choosing between two identical job offers, and yours practices good corporate social responsibility, it may well sway their decision - helping your company to compete with other, much larger, businesses.

Increase your employee retention rates

Giving employees the chance to give back helps to instil a personal sense of pride, as well as an emotional attachment to other team members and to your company.

Employees will be proud to work for a business that supports charity – and with an increased sense of loyalty to your company, they’ll ultimately be much more likely to stay. A recent study showed that businesses that give more than 0.5% turnover to charity are as much as 50% more likely to increase staff retention – a huge factor to consider if you want to keep your new graduate hires around for the long-haul.

Widen your network

Building a relationship with a charity can help to give you exposure to other like-minded businesses, resources and opportunities.

If you are taking part in a fundraising activity, for example, encouraging other businesses in your area or sector, customers or even suppliers to get involved can help to widen your network and strengthen existing relationships.

By supporting charity and encouraging others to get involved in a great cause, you’ll not only be bolstering your brand, but increasing your visibility within your community, market or industry.

Enhance collaboration & teamwork

When every employee, regardless of their seniority, specific team or personality, works towards a common cause, you’ll actively be encouraging inclusiveness and collaboration across the business.

“Being involved with charity at work really helps employees to feel engaged. It also brings employees together, and enables people to have fun whilst raising awareness and money.” – Jack

A great idea is to get people actively involved in deciding which charity or charities to support. If there is a charity that is particularly close to someone’s heart, chances are that each member of your team will wholeheartedly get behind any efforts to support it.

By encouraging your team to involved in an activity or project, you’ll be encouraging camaraderie, unity and teamwork across your business – something that is, in turn, likely to be reflected in their day-to-day work.

Getting involved in charity can have an immensely positive impact for businesses – and there are a huge number of things, one-off or long-term, that you can do to help:

Sponsored anything – walk, run, bake…

Food drives

One-off donations for a particular day i.e. Comic Relief

Volunteering days

Fundraising activities

Long-term partnership with charities i.e. Movember or Mind

Charitable giving can be deeply rewarding for businesses – improving team morale, widening your network, and acting as a valuable tool in graduate recruitment. With research showing that the more companies give to charity, the better it tends to perform, what other reasons do you need to make it a part of your business strategy?